Archive for June, 2005

Social Security Choice: You should have a choice about joining the greatest pyramid scheme of all time. Our government should keep its promises and I’ll be glad to pay into that. But leave some for the rest of us and give us a choice.

Many people think that the Social Security taxes they pay are held in interest-bearing accounts earmarked for their own future retirement needs. The fact is that Social Security is a pay-as-you-go retirement system—the Social Security taxes paid by today’s workers and their employers are used to pay the benefits for today’s retirees and other beneficiaries.

The Future of Social Security,
SSA Publication No. 05-10055, ICN 462560, March 2005

Better ideas are out there.

From the Cato Institute: 450 Economists Endorse Social Security Choice